The Vietnamese media reported that Haiphong, a major industrial city in Vietnam, has agreed to the latest investment plan of LG Display (LGD), a major Korean panel manufacturer. LGD will add US$750 million to the city to build OLED factories and expand panel production capacity.

The Vietnam News Agency reported that LGD plans to start the OLED factory expansion project in March as soon as possible, and put it into operation in May, which is expected to bring 5,000 job opportunities to the local area.

In response to the above report, LGD told the Chinese mainland media “China Business News” that the expansion news is true.

As a global OLED panel leader, LGD went to Vietnam in 2016 to build the first OLED panel factory in the local area. This expansion plan will bring the company’s total investment in Haiphong City to 3.25 billion US dollars.